Azerbaijan sees 2% growth in Nakhchivan's economy

In the first half of 2024, the gross domestic product (GDP) worth 674.4 million manats ($396.71 million) was generated in Azerbaijan’s Nakhchivan Autonomous Republic, 1.7% more year-on-year, Report informs, citing the local Statistical Committee.

Over the past year, the GDP per capita in the autonomous republic increased by 1.1% to 1,438 manats ($845.90).

Industry accounted for 255.6 million manats ($150.35 million) of the 6-month GDP production in Nakhchivan, which is 3.9% more year-on-year.

Some 229.1 million manats ($134.76 million) of the industrial output fell to production and 26.5 million manats ($15.58 million) to services.

During the reporting period, the value of agricultural production was 132.2 million manats ($77.76 million) in the autonomous republic, 0.2% less year-on-year. Crop cultivation accounted for 42.8 million manats ($25.17 million) and animal husbandry for 89.4 million manats ($52.58 million).